Colton Groome Financial Advisors LLC Acquires 2,055 Shares of Prologis, Inc. (NYSE:PLD)

Colton Groome Financial Advisors LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 23.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,910 shares of the real estate investment trust’s stock after purchasing an additional 2,055 shares during the period. Colton Groome Financial Advisors LLC’s holdings in Prologis were worth $1,454,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PLD. Thompson Investment Management Inc. bought a new stake in shares of Prologis during the 4th quarter worth approximately $28,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares during the period. Fairfield Bush & CO. bought a new stake in shares of Prologis during the 2nd quarter worth approximately $35,000. Qube Research & Technologies Ltd lifted its holdings in shares of Prologis by 102.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 318 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 13,518 shares during the period. Finally, Salem Investment Counselors Inc. bought a new stake in shares of Prologis during the 4th quarter worth approximately $37,000. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 1.7 %

NYSE PLD traded down $1.82 on Thursday, hitting $104.67. The company’s stock had a trading volume of 6,310,203 shares, compared to its average volume of 3,391,285. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm has a market cap of $96.82 billion, a PE ratio of 31.82, a PEG ratio of 2.29 and a beta of 1.00. The company’s 50-day moving average is $128.99 and its 200 day moving average is $122.19. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is presently 116.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PLD. Raymond James upped their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Mizuho reissued a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Morgan Stanley increased their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. UBS Group dropped their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Evercore ISI dropped their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.